Several Forex brokers that accept skrill utilize the platform to store their digital currencies and the numbers of these brokers increase daily thanks to the security and speed it offers.
You can also use it to store various currencies regardless of the amount.
The user-friendliness of Skrill coupled with the low trade fees makes it a wonderful digital wallet and of course, the fact that as a trader who uses it, you are open to numerous promotions and bonuses.
Skrill Forex Brokers
It was in 2001 when the developers formed Skrill to be an option for the PayPal users and currently, more than 40 million people use it worldwide.
Paysafe Group owns Skrill having acquired it from its previous owners and afterward, they went ahead to acquire Neteller which formerly rivaled Skrill.
You can access Skrill on your mobile phones and computers, and it is for this reason you find its use in a casino to deposit cash or make withdrawals.
But currently, most people use it for trades in the Forex world though not every trader has begun to accept it as a means of payment.
Hence, we will provide you in this guide a list of those brokers that recognize and trade with it.
Trusted Skrill Forex Brokers
|Account Base Currency||USD, AUD, EUR, GBP, CAD, JPY, NZD,CHF, SGD, HKD|
|Trading Platforms||Metatrader 4/5, cTrader, Webtrader, API Trading, MAM / PAMM|
|Broker Type||Market Maker|
|Regulations||ASIC, B.V.I, FSA, FFAJ, FSCA, IIROC|
|Account Base Currency||USD EUR GBP AUD|
|Max Leverage||400:1 / 30:1 EU Clients|
|Trading Platforms||Metatrade 4, AvaTradeAct, Web trading, AvaOptions AvaTradeGO, Mobile trading|
|Broker Type||ECN, DMA|
|Min Deposit||$100.00 USD|
|Account Base Currency||AUD, CAD, CHF, EUR, GBP, HKD, CNY, NZD, SGD, USD|
|Trading Platforms||IRESS, Metatrader 4 and 5, MAM, PAMM|
|Regulations||FSCL and FSPR|
|Account Base Currency||USD EUR GBP AUD NZD SGD CAD JYP ZAR|
|Trading Platforms||Metatrader 4|
Can I Trust Skrill For Forex Deposits?
In Britain, Skrill is widely known as a means of payment to any part of the world as the United Kingdom’s Financial Conduct Authority regulates its transactions.
Before you use it for trades as a broker, you can authenticate the location and details of their bank.
This makes it transparent, safe, consistent, and suitable when handling huge transactions.
What is Skrill?
Skrill is a funds transfer platform that lets you make your digital transactions, safely, faster and easier.
Its previous name was “Moneybookers” and had handled transactions for various businesses ever since its launch in 2001.
Its goal is to transfer, store, and make payments of international funds at low cost online.
Why use Skrill as Your Deposit/Withdrawal Method?
Since Skrill offers a seamless, secure, and quick service for funds transacting, you could use it directly from your account without stress or worry.
This great platform assures you of safety too as the details of your account and credit cards are saved together.
This means that no one can make transfers except he or she retrieves your password from you.
How To Pick A Decent Broker With Skrill?
Just as they have various traders in the market, so does it apply to Skrill brokers too. We have compiled a list of decent skrill brokers above.
To know the most suitable one that can serve you, find out the rules involved with brokering before doing anything else. This lets you understand if the broker can assist you in using the technicalities of Skrill.
Skrill Chargeback on Broker Account
It is quite unfortunate that Forex brokers that accept Skrill offer no chargeback, unlike PayPal.
You rarely see a situation where one requests a chargeback as you would have to provide enough proof before it can even begin the process. This is one avenue PayPal surpasses Skrill and it isn’t good for the organization.
Why Skrill is a Popular payment Option
One of the first and widely known means of international online transactions is PayPal and just after it, Skrill stands providing similar service as it but with some good differences.
In about a few years, the popularity of Skrill rose and right now, several traders prefer it to PayPal which came into play before it.
Additionally, it has some advantages that make it more preferable:
- Speed: You can use Skrill to make quick transactions without any delay or hindrance.
- Skrill Account crediting ways: Skrill lets you use a wire transfer or debit/credit card to fund your account.
- Skrill MasterCard: You can get a Prepaid MasterCard from a Skrill broker.
- Skrill broker Convenience: You have a very straightforward operation when sending or receiving money from any part of the world via your phone.
- Charges: You do not have to pay when receiving money on your Skrill account but only when you send funds there is a minimal fee.
- Skrill Security: Skrill operates with the authorization of FCA hence making it a secure, trustful, and safe means of doing transactions.
Why do Forex Brokers That Accept Skrill need to be regulated?
The aim of regulating the Forex brokers is to ensure you have minimal risks, quality services, and safe transactions.
When you do not regulate the brokers, there could be issues of fraud and this would be bad for the reputation of Skrill.
Forex brokers that accept Skrill
A list of Forex brokers that support the Skrill payment system as an option for funds deposit/withdrawal:
Pacific Financial Derivatives
One Financial Markets
ROinvesting (ex-GMO Trading)
Benefits Of Using Skrill As A Forex Payment Option
When you use Skrill to do your international online transactions, you enjoy some advantages. These advantages are numerous and could include:
Speed of Skrill Payments
After making your payments on Skrill, the deposit happens instantly especially when you use your credit or debit card. However, deposit via bank transfer could last for five days before you receive it. Some of the payments Skrill accepts include;
- Paysafe Cash
- Fast Bank Transfer
- Rapid Transfer
The security of transacting on Skrill is high since they utilize a128-bit encryption which is the standard for security under the directive of the Payment Card Industry Data Security.
Also, you have to set up a two-tier login which involves providing your email, password, and code they send to your phone or email.
Skrill Fees or Costs
You can easily register with a Skrill account though you must verify your identity if you wish to have limitless withdrawals and deposits. However, you pay £4.76(€5.50) for each withdrawal but if your withdrawal exceeds €15,000, then the system will wave off this fee.
Overall, trading with Skrill has plenty of benefits:
- Straightforward usage and free registration
- Suitable for Forex trades
- Numerous brokerage promotions
- No charge on funds reception
- Swift transactions (aside bank transfer)
- Allows about ten credit/debit cards on Skrill account at the same time
- Ability to transact with non-Skrill customers
- Tough security
- Has numerous brokers as customers
- Lesser fees with increased transactions amounts
- Permits transactions in 38 currencies like Euros, USD, GBP, CAD and Yen)
Despite the numerous advantages on Skrill, there are still some drawbacks like;
- Fees for funds withdrawal
- High fees for currency exchange and management
- Charges on idle accounts
- Website uncertain on exact limits for withdrawals and deposits
- Need for verification to withdraw and deposit limitlessly
How to Use Skrill e-Wallet
Before beginning using a Skrill wallet, you should first satisfy some requirements;
- First, you must access the Skrill website and register
- This gives you a free account which you can use to search for a trustworthy Skrill broker
- When you find one, then, you can begin your trades with the help of your broker.
Skrill Deposits and Withdrawals
- As a Skrill customer, you can withdraw or deposit funds easily into your account though you will have to verify your identity first.
- Skrill opposes PayPal when making deposits or withdrawals since there is no charge on money receipt but there is a trivial one on money transfer.
- By transacting in large amounts, you wave off the transfer fee and can be a VIP member on the diamond, Gold, or Silver level where you do not pay fees again.
- You pay 1% when uploading funds to your account regardless of your payment method or status.
A Skrill account is different from the Skrill Money Transfer Service in the sense that you pay nothing for having an account but pay 3.99% for transactions involving currency conversion.
If you transact up to €6000 every quarter, then you pay just between 1.99% and 3.79% fees.
You will pay a fee of €5 every month after you do not log into your account for 12 straight months.
Nevertheless, you can simply just login and out and that stands as an activity. On the other hand, you can close your account at no cost.
Documents required to verify the Skrill account
To verify your account, you have to provide your driving license, government-issued ID card, or passport in addition to a tax assessment, utility bill, or bank statement that shows your name and address.
After your registration, you can begin making transactions after some days.
Deposits and Withdrawal Processing Times
You have instant deposits on Skrill but delayed withdrawals that could take up to 24 hours before the acknowledgment.
Why choose Skrill?
With maximum security, ease of usage, and rapid transaction patterns, Skrill is a good choice for Forex traders.
FCA which is a major regulatory body worldwide also recognizes it as a means of doing transactions so users do not have be worried when using it.
However, you will have additional benefits if;
- you reside in Europe since Skrill is also situated there and serves EU citizens properly,
- your broker resides in Europe
- you do not wish to utilize PayPal due to some reasons but you want to use your master or debit cards for transactions,
- you have a Skrill account already for other usages like gambling or gaming
With the emergence of Skrill to aid Forex brokers make numerous withdrawals or deposits, Skrill is among the top in the list of platforms for transactions.
Additionally, it has a lot of advantages that make it more preferable and this is the reason for its constant growth.
With our detailed guide on Forex brokers that accept skrill, you can open a Skrill account, find a broker, and begin making your transactions easily, quickly, and safely.